Connecticut § 12-217aa - Order of credits.
Full text of Connecticut Connecticut General Statutes § 12-217aa — Order of credits., with citation guidance and answers to common questions.
§ 12-217aa. Order of credits.
Sec. 12-217aa. Order of credits. (a) Except as otherwise provided in section 12-217t and subsection (c) of this section, whenever a company is eligible to claim more than one corporation business tax credit, the credits shall be claimed for the income year in the following order: (1) Any credit that may be carried backward to a preceding income year or years shall first be claimed (A) with any credit carry-back that will expire first being claimed before any credit carry-back that will expire later or will not expire at all, and (B) if the credit carry-backs will expire at the same time, in the order in which the company may receive the maximum benefit; (2) any credit that may not be carried backward to a preceding income year or years and that may not be carried forward to a succeeding income year or years shall next be claimed, in the order in which the company may receive the maximum benefit; and (3) any credit that may be carried forward to a succeeding income year or years shall next be claimed (A) with any credit carry-forward that will expire first being claimed before any credit carry-forward that will expire later or will not expire at all, and (B) if the credit carry-forwards will expire at the same time, in the order in which the company may receive the maximum benefit.
(b) In no event shall any credit be claimed more than once.
(c) The rebate allowed pursuant to section 32-7t shall be claimed after all other credits have been claimed.
(P.A. 98-244, S. 10, 35; 98-261, S. 4, 6; P.A. 22-118, S. 424.)
History: P.A. 98-244 effective June 8, 1998, and applicable to income years commencing on or after January 1, 1998; P.A. 98-261 amended Subsec. (a) to add exception for Sec. 12-217t, effective June 8, 1998, and applicable to income years commencing on or after January 1, 1998; P.A. 22-118 added Subsec. (c) re JobsCT tax rebates allowed pursuant to Sec. 32-7t and amended Subsec. (a) by adding reference to Subsec. (c), effective July 1, 2022, and applicable to income years beginning on or after January 1, 2023.
Source: official Connecticut text · Last verified 2026-08-27
Frequently Asked Questions About Connecticut § 12-217aa
What does Connecticut General Statutes § 12-217aa cover?
Section 12-217aa ("Order of credits.") is part of the Connecticut General Statutes, the codified statutory law of Connecticut. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Connecticut § 12-217aa?
A common citation format is "Connecticut General Statutes § 12-217aa" (Connecticut). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Connecticut law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Connecticut official source linked on this page or consult a licensed Connecticut attorney.
How does Connecticut § 12-217aa apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Connecticut can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
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